So, you want to move to Sweetwater, Florida and you’ve already got a prospective property in mind. The only problem is that you aren’t sure how to transfer the property’s ownership from the seller to the buyer. Fortunately for you, we’ve put together this guide on the different types of deeds you can prepare to legally call a Sweetwater property yours.
Why Purchase a Property in Sweetwater, FL?
Sweetwater is a city in Miami-Dade County, Florida, a few minutes away from Doral. With a population of more than 19,000 in 2020, Sweetwater offers a suburban feel with its wide range of restaurants, cafes, and retail stores.
Most of the properties in Sweetwater are owner-occupied and sell for around $290,000 according to Realtor.com. If you’re planning on purchasing a Sweetwater home, you’ll be glad to know that the city is a buyer’s market – this means you’ll have plenty of properties to choose from, which are mostly single-story homes.
Although Sweetwater’s cost of living is higher than the U.S. average at 114.6 (rating by Best Places, the city is still a great place to live, particularly if you’re into the “sleepy town” vibe. It’s also close to an international university, and has access to two major expressways.
For more information on Sweetwater, or if you’d like to start searching for a property, you can contact one of our Sweetwater property managers.
How to Transfer Ownership of Sweetwater Property
When dealing with the transfer of ownership of your Sweetwater property, you will always use a deed – this is a formal document that confirms the transfer of a property from one party to another. In most instances, the seller will prepare the deed, but the buyer can also be allowed to do this.
In any case, the deed should be signed by both parties in the presence of a notary public (i.e. a person who’s authorized to draw up deeds, contracts, etc. such as a lawyer) as well as two other witnesses. Once the deed is signed, the transfer of ownership becomes official, and the buyer now becomes the new owner.
In changing ownership of a property in Sweetwater, or in the Sunshine State in general, there are many deeds you can use. Below, we break down these various deeds so you can better understand them, and identify the ideal deed to use for your situation:
#1 General Warranty Deed
This is the most common type of deed used to transfer ownership of real property in Sweetwater. A general warranty deed indicates that the seller is the rightful owner of a particular property and that they have the legal right to transfer that property’s ownership in a sale. It shows that the property is free of any liens and that there are no existing, third-party claims on the property. An example of this claim is when a creditor claims the property as collateral.
#2 Special Warranty Deed
The special warranty deed is similar to the general warranty deed, however, the period covered is limited. It guarantees that there are no issues with the title only for the period of time it was under the seller’s or grantor’s ownership. In other words, it doesn’t provide a warranty for the time before the current owner obtained the property. Basically, if there were any issues with the title during that time, the grantor or the current owner can’t do anything about it.
#3 Quitclaim Deed
Another common deed used when it comes to Sweetwater real estate, the quitclaim deed is often used between family members who want to quit their claim to a property. It doesn’t provide any warranties, nor does it actually transfer ownership – its sole purpose is to state that the owner wants to “give away” the property or to transfer only the title to another person. Furthermore, it doesn’t guarantee against defects, such as liens and third-party claims from creditors.
While it does not change a property’s ownership, it can be used to prove the ownership of a property and clear its title. Once it is signed, the grantor won’t be allowed to revoke it – in other words, they can’t go back on their word.
#4 Life Estate Deed
This type of deed transfers the property’s title and ownership to a person while maintaining ownership and use of that property for the rest of their life. Once the grantor passes away, the property’s ownership passes to the person named in their deed. Generally, the life estate deed is useful for estate planning.
What’s the Easiest Way to Transfer Ownership of a Sweetwater Property?
Wondering which is the most convenient deed you can use when transferring ownership of your Sweetwater property? If you’re transferring ownership of a property to a family member, such as a child, brother, etc., it would make the most sense to use the quitclaim deed.
However, when purchasing a property or transferring ownership from a non-relative, use the general warranty deed. This deed grants the most protection as it promises that there are no defects with the title, liens against the property, and much more. Furthermore, the seller would have to provide proof of ownership, which means you can rest assured that you’re obtaining a property they can legally sell. As a buyer, you’d want to go for a general warranty deed because it’s more comprehensive, plus it gives you full ownership of a property.
If you’re purchasing a property in Sweetwater, our in-house lawyers and Miami- Dade County property management team can walk you through the different deeds.
How to File a General Warranty Deed in Florida
To file a deed, you must first complete a deed form. The seller will usually take care of this, but if that responsibility falls on you, consider consulting a lawyer to make sure your deed is correctly drafted. Once both parties have signed the general warranty deed (in the presence of two witnesses), it should be submitted to the county records office, where it will be scanned, stamped, and returned to the buyer.
Moving to Sweetwater? We Can Help With That
Once you’ve signed your deed and it’s time to plan your Sweetwater relocation, give us a call. Luxury Property Care not only offers full-service property management to rental providers but also long-distance relocation assistance across all of South Florida. Whether you’re from Miami-Dade County, Broward County, Palm Beach County, or any other county, we’re here to make your transition simple and seamless.
Call (561) 944 – 2992 or complete our contact form today to learn more.
